The company reported a pre-tax loss of €0.44m, down from a profit of €1.67m the same time last year as it invested heavily in its infrastructure and new sales and marketing plans.

India's economy up 8.9pc year on year

ECONOMY

INDIA'S economy grew a forecast-beating 8.9pc year on year in the July to September quarter, underscoring the country's brisk recovery from the global financial crisis. The healthy numbers brought temporary cheer to the government, buffeted by a string of scandals including a telecom scam that could have cost the treasury up to $40bn.

ISME wants people to shop locally

SMALL FIRMS

THE IRISH Small and Medium Enterprises Association (ISME) has called for a national effort to "buy Irish to save Irish jobs". It said thousands of jobs depend on consumers buying locally produced products. ISME chief executive, Mark Fielding said: "Source and sell goods locally, and you create a multiplier effect; each euro spent will work its way through the local supply chain."

First Derivatives and US firm partner up

PARTNERSHIP

Software and consulting firm First Derivatives has announced a joint venture with Trading Cross Connects US. Newry-based First Derivative says the partnership will meet the growing need for software, infrastructure and consulting services to high-frequency trading firms in the foreign exchange, fixed income and futures markets areas.

JPMorgan to give bankers iPads

SWITCH

JPMORGAN will give its investment bankers iPads to provide a mobile tool as Apple expands its domain to Wall Street, threatening Blackberry maker Research in Motion. "We believe there are real benefits in our working environment that can be realised using this device," two managing directors at JPMorgan said.